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27 September 2006
Lend Lease secures A$377 million ANZ office development at Victoria Harbour
Lend Lease Corporation Limited (“Lend Lease”) today announced that its subsidiary, Lend Lease Development Pty Limited (“LLD”), has agreed commercial terms with Australia and New Zealand Banking Group Limited (“ANZ”) to develop, and for ANZ to purchase, 87,000 square metres of accommodation at its landmark Victoria Harbour development in Melbourne.
When complete, the building will rank as the largest single tenancy, CBD commercial office development ever undertaken in Australia.
The building will be located on the new extension of Collins Street and is bounded by the Yarra River and Docklands Park. It is designed as a 5 Star Green Star rated building. The innovative design will provide accommodation over 10 levels and will include childcare facilities, a gymnasium, shops, restaurants and staff amenities.
Under the terms of the agreement, LLD will receive land and development management fees and Bovis Lend Lease Pty Limited will carry out design and construction of the A$377 million building and external works. Site work will commence late 2006 and is due for completion in the second half of 2009.
The agreement is subject to final formal documentation.
This project adds to an extensive pipeline of over A$350 million worth of projects either under construction or about to commence at Victoria Harbour. These include two office buildings on Bourke Street, two residential apartment buildings, a Safeway supermarket and approximately 50 specialty retail outlets and restaurants.stock exchange
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